Best Logistics Intelligence Software - Page 4

DR

Researched and written by Daniel Rivera

Logistics intelligence software helps supply chain professionals make better business decisions by mining data from APIs, third-party research providers, and end-users to optimize shipping, contract management, spending, and visibility. This type of software focuses heavily on maximizing shipping efficiency by analyzing spot rates, geographical and seasonal trends in rates, and demand. The results of these analyses then help companies accept or reject load tenders based on the fairness of the bid, effectively increasing transparency and collaboration in global supply chain networks. In addition, it allows end-users to forecast freight costs, capacity, bottlenecks, and ideal shipping routes. As such, logistics intelligence software contains some features seen in supply chain visibility software.

During the contract negotiation phase, this tool also benchmarks offered rates against market rates to ensure fair prices and prevent overspending. The software then evaluates the performance of carriers with whom businesses are contracting. Some logistics intelligence platforms also use algorithms for auditing freight invoices to detect overcharges or inconsistencies in contract agreements. At the technical level, logistics intelligence tools automate data entry, create reports, and provide dashboards for data visualization. Combining those functionalities with predictive analytics makes this software similar to analytics platforms, although this tool is exclusively used for supply chain management.

To qualify for inclusion in the Logistics Intelligence category, a product must: